Michigan will get another emergency manager, Snyder names EM for Highland Park schools

Jack Martin when he was the CFO for the U.S. Department of Education. He will officially be the emergency manager of Highland Park public schools on Monday, January 30.

U.S. Dept. of Ed.

Governor Snyder named an emergency manager, Jack Marin, for the Highland Park public schools. today. His appointment will be effective on Monday, January 30.

Update 4:00 p.m.

Governor Rick Snyder says it’s "unacceptable" that that Highland Park School District may not have enough money to finish the school year. Snyder made the comments following a tour of a factory in West Michigan Friday afternoon.

Highland Park Schools has already borrowed money from the state to make payroll. The district will need more money in order to pay teachers and other employees next month. But Snyder says it’s unclear where that money will come from.

“I can’t give you the answer other than to say I want to make sure these kids finish the school year and we’re going to work with the legislature or other places to see if we can really make that happen as quickly as possible," Snyder said, following the tour.

Update 3:54 p.m.

The Highland Park school district is the sixth public entity in Michigan to be placed under the control of a state-appointed Emergency Manager.

That’s after Governor Rick Snyder concurred with the findings of a review team that the school district is deep in debt with no credible plan to fix its finances.

Jack Martin will assume the role of Highland Park public schools emergency manager on Monday. Miller is a certified public accountant and the former chief financial officer for the U.S. Department of Education.

Martin said his first task will be to determine how quickly Highland Park is losing students, and how that will affect the district’s finances in the coming school year.

"We want to get an accurate forecast, as best we can, of what the student population’s going to be; try to match the expenditures to what the revenues will be; and we’ll make adjustments to expenditures as we feel are necessary to sustain the district and manage the deficit," said Martin.

Martin will have 45 days to submit a preliminary plan for addressing the deficit to the state treasurer.

3:03 p.m.

Here's more about Jack Martin from a Department of Treasury press release:

Martin is founder and chairman of Martin, Arrington, Desai & Meyers, P.C. and has 40 years of experience in both the public and private sectors. Martin was chief financial officer for the U.S. Department of Education after serving as CEO and managing director of Jack Martin & Co. Certified Public Accountants and Consultants and acting CEO of Home Federal Savings Bank of Detroit.

2:03 p.m.

Michigan will have six emergency managers operating in the state.

Governor Snyder has just named an emergency manager for Highland Park public schools.

More from MPRN's Capital Bureau Chief Rick Pluta:

Governor Rick Snyder has affirmed a state of financial emergency exists in the Highland Park public schools and named an emergency manager to run the district.

The governor has named Jackie Martin to be the emergency manager.

The neighboring Detroit public school district is also being run by an emergency manager, as are the cities of Pontiac, Benton Harbor, Flint, and Ecorse.